One of the rare instances, when Pig iron is being offers at an higher price than ingot. This is noticed today in Raipur market. Pig iron in Raipur market (central India) is today assessed at INR 21,200/MT ex-works and ingot at INR 20,900/MT.
Ideally, there should be a price gap of INR 4,000/MT. In last year 2015, the gap was seen at around INR 5,000/MT, which now just narrowed down to INR 300/MT. This situation has arrived due to increased availability of billet/ingot in local market.
Market participants anticipating that Pig iron prices may fall in eastern India, the largest producer and also the biggest supplier to domestic and international market as smelters are switching to Calcined Petroleum Coke ( CPC), which is an alternative to add carbon in steel.
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